What is LDTI?
ASU 2018-12 also known as “Long Duration Targeted Improvements (LDTI),” is an improved accounting standard promulgated by the FASB for measuring insurance contract liabilities and profit emergence.
The primary changes to the standard significantly change how insurers measure the liability for certain long-duration contracts and market risk benefits, amortize deferred acquisition costs, and disclose financial information. LDTI introduces new data requirements, which may require significant changes to systems, processes, and internal controls.
Why KPMG and SAS?
The alliance between KPMG and SAS delivers industry-leading services and technology to help your company navigate the LDTI accounting standard.
Together, KPMG and SAS can help your organization address the challenges of this new accounting standard by reducing the risk of manual approaches or expensive custom builds and “bridging the gap” between controlled data sources and reporting and accounting systems.